Northern Star Resources Ltd (ASX: NST) shareholders could be in for a good day on Tuesday as the company pays out its biggest routine dividend ever.
That’s right, the gold miner’s record 10 cents per share fully franked interim dividend will be landing in investors’ pockets from today.
At Monday’s close, the Northern Star share price was $10.78.
That gives the S&P/ASX 200 Index (ASX: XJO) company a trailing dividend yield (considering its most recently announced full-year and half-year dividends) of 1.8%.
Let’s take a closer look at the Northern Star dividend set to drop today.
All the details on Northern Star’s record dividend
It’s payday for Northern Star investors, with the company’s landmark dividend set to leave its vaults on Tuesday.
The company declared the 10-cent per share dividend within its half-year earnings, released in February.
It represents 27% of Northern Star’s cash earnings for the period and marks its biggest routine dividend ever.
The dividend set to be paid out today is also equal to the company’s largest dividend yet – a special dividend handed to investors alongside a 9.5 cent final dividend in 2020.
For the first half of financial year 2022, the gold miner reported around $1.8 billion of revenue – 63% more than it did for the prior corresponding period.
Its net profit after tax (NPAT) and earnings before interest, tax, depreciation, and amortisation (EBITDA) also rose 43% and 47% respectively.
Its cash earnings came to $430 million – representing a 69% gain.
Investors have undoubtedly been excited about the release of Northern Star’s interim payout in recent weeks. Particularly, as the stock traded ex-dividend more than three weeks ago.
Interestingly, while most stocks tend to see their value fall when they trade ex-dividend, the Northern Star share price surged 6% on its latest ex-dividend date. That likely had something to do with soaring gold prices.
Right now, the Northern Star share price is 14% higher than it was at the start of 2022. It has also gained 6% since this time last year.
The post The Northern Star (ASX:NST) dividend is being paid today. Here’s the lowdown appeared first on The Motley Fool Australia.
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More reading
- 5 things to watch on the ASX 200 on Tuesday
- 5 things to watch on the ASX 200 on Monday
- What’s the outlook for the Northern Star (ASX:NST) share price?
- Could these ASX 200 gold shares be set for more gains in 2022?
- 5 things to watch on the ASX 200 on Wednesday
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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